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GST collection in December goes up by 15% to reach almost 1.5 lakh crore

Continuing with the trend of robust GST collection in the country, the gross GST revenue collected during December 2022 reached ₹1,49,507 crore, going up by 15% compared to December 2021. Gross GST collected in November 2022 was ₹145867 crore, which means collection increased by ₹3640 crore or around 2.5% in the month compared to the previous month.

In the total GST collection of ₹1,49,507 crore in December, ₹26,711 crore was Central GST, ₹33,357 crore was State GST, ₹78,434 crore was Integrated GST, and the rest ₹11,005 crore was Cess, according to a statement issued by the Union Ministry of Finance.

The Union Government has settled ₹36,669 crore to CGST and ₹31,094 crore to SGST from IGST as regular settlement. The total revenue of the Centre and the States after regular settlements in the month of December 2022 is ₹63,380 crore for CGST and ₹64,451 crore for SGST.

While the overall revenues for the month of December 2022 are 15% higher than the GST revenues in the same month last year, revenues from import of goods was 8% higher and the revenues from domestic transaction (including import of services) are 18% higher than the revenues from these sources during the same month last year.

During the month of November, 2022, 7.9 crore e-way bills were generated, which was significantly higher than 7.6 crore e-way bills generated in October, 2022.

GST Collections had reached a record high of ₹1,67,540 crore in April this year. The second highest collection was ₹1,51,718 crore in October 2022. With the release of the December GST numbers, the total GST collection in the first nine months of the financial year has reached ₹13,40,426 crore. Also, GST collections have now exceeded the ₹1.4-lakh crore mark for 10 months in a row.

Maharashtra was the state with highest GST collection at₹23,598 crore, followed by Karnataka at ₹10,061 crore and Gujarat at ₹9,238. The other states top ten were Tamil Nadu (₹8,324 crore) Uttar Pradesh (₹7,178 crore), Haryana (₹6,678 crore), West Bengal (₹4,583 crore), Delhi (₹4,401 crore), Telangana (₹4,178 crore), and Odisha (₹3,854 crore).

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